Proactive regulation could help a billion to access financial services by 2020
RBI decision helps 33 million gain access to basic financial services in six months
The president of the World Bank, Jim Yong Kim, has praised the efforts of the Reserve Bank of India (RBI) and governor Raghuram Rajan – as well as the Indian government – in helping tens of millions of Indians to be offered basic financial services for the first time.
The RBI's decision to accept a new government-launched ‘unique ID' scheme as sufficient for banks to meet electronic ‘know your customer' (KYC) rules has helped a total of 33 million Indians to gain access to financial services in
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